Everyone knows the London property market is crazy. Its reputation has done enough to scare off investors from the city entirely, meaning that they miss out on a lot of incredible opportunities for growth and capital appreciation.
Despite the naysayers, London is still a fantastic place to invest in property with pockets of potential dotted all over Greater London. Some of these avenues and neighbourhoods may seem surprising, but don’t let that fool you.
One such place is Canary Wharf. While it may seem like there can’t possibly be any investment potential left in the city’s affluent financial district, that’s where you’re wrong. Here’s why Canary Wharf should be at the top of your investment destination list.
Why You Should Invest In London Property
The London property market continues to deliver above and beyond. The reason why it’s so pervasive and so attractive to investors today is because the city keeps reinventing itself and giving so much to offer. The city’s population recently eclipsed 9 million, making it one of the most densely populated cities in the world. What’s more, this figure is expected to hit 11 million by 2030.
All of these people have to live somewhere, meaning that there is a perpetually high demand for quality housing.
London attracts a lot of global talent, students, and innovators to the city. It is the epicentre of both the UK and even Europe. It is the country’s centre for finance, business, tech, politics, art, and culture. This means that the very best people move here to find work and education opportunities, meaning that there is always a strong influx of high-quality renters. And it’s not just people coming here for a permanent move. The UK capital sees over 30 million tourists each year.
The city is a fantastic place for investors looking to build their wealth and their portfolios through long-term rental income, short-term lets, and capital appreciation. The average house price in London continually shows positive growth and the possibility for high returns. According to Rightmove, the average house price was £712,108 in the past year. The main sales during this time period were flats which sold for an average of £550,106; terraced properties sold for an average of £786,936. From this alone, it shows that the London property market continues to be extremely profitable and stable.
Likewise, the average rental price is also exceedingly positive. Zoopla also showed the average monthly rent in London stands at over £2,250. This shows an increase from approximately £2,190 per month in the same quarter of 2022.
Canary Wharf
Canary Wharf is the epicentre of the country’s financial industry. It has a fast-expanding and changing landscape, with new sleek additions to its glittering skyline year on year. The neighbourhood is famous for its residents who are some of London’s finest high-earning, high-value renters. They often work in the Canary Wharf business district, often because they want to be closer to their place of work and cut down on their commute time. This is particularly notable for those who work in finance, with its famously long hours and “work hard, play hard” mantra.
It is also an area with strong rental opportunities and potential for capital appreciation. According to Rightmove data, properties in the area averaged £534,977 over the last year. The majority of these sales were flats, which sold for an average price of £517,041. Terraced properties sold for an average of £739,614 and semi-detached properties went for £798,367. Looking at the trajectory, sold property prices in Canary Wharf over the last year were 12% down on the preceding year and 25% down on the 2021 peak of £713,029.
Investment Opportunities in Canary Wharf
Park & Sayer
Park & Sayer is a series of highly curated, premium residences in the redeveloped Elephant & Castle area and is part of a £2.5 billion regeneration scheme. This new development is nestled inside a true community, featuring restaurants, bars, galleries, shops, markets, and so much more. It is enviably located within London’s metropolitan transport Zone 1 and is a 3 minute walk from the nearest Underground station. Residents can access the city, the West End, and Canary Wharf allwithin 15 minutes.
The development is designed with modern living in mind. It boasts a 24-hour concierge, a private gym, a business suite, asky lounge, and a private garden area. It is sleekly designed with high specifications. All units come with a balcony or a terrace.
To learn more about this exciting new development, click here to find out more about the Park & Sayer residences. Interested in more London properties in general? You can also check out our London homepage here to find out more about the neighbourhoods and developments we have on offer.
Summary
The London buy-to-let property market can be daunting for first-time investors. Here at North Property Group, we’re dedicated to making sure you get the most out of your property investments. We are a highly-esteemed property investment agency with a newly opened sister branch in Shoreditch, London. We offer a comprehensive end-to-end investment and lettings service and are deeply committed to our clients.
We manage the less exciting side of investment for you so you can focus on what really matters. From tenancies to payments to documents, we offer investors peace of mind and a hands-off approach to property investment. Still need convincing? We currently have over 1,500 5-star reviews on Trustpilot – which keeps on growing. Book a free consultation with us today to start your London and Canary Wharf investment journey and tap into the UK’s best off-plan opportunities.
